There'll be no big recovery plan announced in the near term. Perhaps the majors will make some headway in winning support for a renewed federal bailout program, but that won't do much to shore up support on Wall Street, will it ?
So my point is, the stock can go to zero if it wants. It will have no impact on what action the company takes. If AMR mgmt had any magic bullets they would have fired them already. A BK filing by AMR is not imminent. The market may be factoring in the increased likelihood of a BK in several months... or the chance that AMR would file a pre-emptive BK after UAL files. But the stock value going down will not in itself cause management to do anything. There is really no need to get hysterical over each daily decline. Just as if the stock goes up for a few days in a row, it does not mean that a miraculous recovery is taking hold.
Obviously, if AMR files a pre-emptive BK then that would have a.... very bad impact on the value of the stock. Harm would be done to shareholders, certainly, but a pre-emptive BK would frankly be better than a long, dragged out BK that just delays the inevitable.
AA Forever, WN *NEVER*..........